Investment , Field Development

Australia’s Woodside Slashes $2 Billion in Spending, Delays Key Gas Projects

Woodside Petroleum halved its forecast spending for 2020 and deferred go-ahead decisions for its two biggest gas projects to ride out the pain of the coronavirus pandemic and plunging oil prices.

March 27, 2020

Investment , Renewables

Lightsource BP Completes Financing on 260-MW Solar Project in Texas

Lightsource BP has successfully closed on a $250 million financing package for its Impact Solar project located in Lamar County, Texas, 120 miles northeast of Dallas.

March 26, 2020

Restructurings , Investment , Unconventional , Shale Plays

Oil Crash Poses Extinction Risk for Some Shale Producers

A large part of the oil and gas industry will go into a “financial intensive care unit” over the next few months as shale producers enter survival mode, an expert says.

March 24, 2020

Investment , Midstream

BlackRock Drops Out of Race for ADNOC’s Gas Pipeline Assets

BlackRock has dropped out of the race to become an investor in Abu Dhabi National Oil Co.'s (ADNOC) natural gas pipeline assets, two sources familiar with the matter said.

March 23, 2020

Investment , Exploration & Production

Report: Oil Market Collapse Could Lop 20% Off Exploration Budgets In Brazil

Before oil prices collapsed in the wake of failed OPEC talks earlier this month, Wood Mackenzie had forecast that some $3 billion would be invested in exploration in Brazil.

March 17, 2020

Investment , Exploration & Production

Premier Oil Sees At Least $100 Million In Capex Cuts

U.K. oil producer Premier Oil on March 13 said it had identified at least $100 million in potential savings on its 2020 capital spending plans as it and other rivals scramble to adjust to the plunge in global crude prices.

March 13, 2020

Investment , Deepwater

OMV Again Postpones Decision On Black Sea Offshore Investment

The exploration of the Black Sea Neptun block is a joint venture between OMV’s Romanian subsidiary Petrom and U.S. major Exxon Mobil Corp., and includes the first deepwater exploration well in Romanian waters.

March 13, 2020

Investment , Crude Oil , Health, Safety & Environment , Renewables

Oil Shock Threatens To Take Wind Out Of Sails For Renewables Shift

The plunging oil price is likely to put pressure on energy transition efforts to switch to renewables.

March 11, 2020

Restructurings , Investment , Crude Oil , Acquisitions & Divestitures , Mergers

Post-Meltdown: Expect Surge Of Shale Bankruptcies, Experts Say

A wounded oil and gas industry enjoys better numbers the day after prices plummeted, but steep debt will likely bring about a wave of M&A, bankruptcies and litigation.

March 10, 2020

Investment , Crude Oil

Will Stock Market Shock Lead To An Oil Industry Shakeout?

Oil and gas stocks lead the markets’ plunge, with debt-ridden companies struggling with a commodities crash as well.

March 9, 2020